Russia's federal budget deficit widened to nearly $79 billion in the first seven months of this year, the Finance Ministry said on Wednesday, as declining oil and gas revenues and higher government spending put further pressure on public finances.
In a statement, the ministry said oil and gas revenues fell 16.8% year-on-year, while government spending rose 14.5%, contributing to a wider budget gap during the period amid continued challenges facing energy-sector revenues.
//Petra// AF
Russia's federal budget deficit widened to nearly $79 billion in the first seven months of this year, the Finance Ministry said on Wednesday, as declining oil and gas revenues and higher government spending put further pressure on public finances.
In a statement, the ministry said oil and gas revenues fell 16.8% year-on-year, while government spending rose 14.5%, contributing to a wider budget gap during the period amid continued challenges facing energy-sector revenues.
//Petra// AF
Russia's federal budget deficit widened to nearly $79 billion in the first seven months of this year, the Finance Ministry said on Wednesday, as declining oil and gas revenues and higher government spending put further pressure on public finances.
In a statement, the ministry said oil and gas revenues fell 16.8% year-on-year, while government spending rose 14.5%, contributing to a wider budget gap during the period amid continued challenges facing energy-sector revenues.
//Petra// AF
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Russia's budget deficit widens to nearly $79 billion in first seven months
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